Pharma major, Piramal Healthcare, is eyeing acquisitions overseas, a top company official said.
"Many global pharma companies are on our radar. We are looking for a cross-border acquisition. But we have not finalised anything so far,"Piramal Healthcare director, Swati Piramal, told PTI here today on the sidelines of seminar.
According to her, the company would spend a part of the Rs1,000-crore it is planning to raise, on acquisitions and the possible target would be another pharma or healthcare company.
"The Board will take the final decision. But what I can say at present is that it would be a pharma company or a healthcare company and we sare looking beyond India for the acquisition," she said, without disclosing further details.
Recently, Piramal Healthcare, in a filing to Sebi, said that its Board had approved raising up to Rs1,000 crore by issuing securities. The Board of Directors would take a final decision on pricing, mode and manner of raising the funds, the statement added.
Piramal Healthcare reported a 45% jump in its consolidated net profit at Rs 106.27 crore for the second quarter to September 30 compared to Rs73.39 crore in the year-ago period. Total income rose to Rs999.99 crore during the July-September period of the current fiscal, from Rs889.33 crore in the same quarter last year.
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